#History of paypal pdf free

With the marked increase in C2C transactions exemplified by auction sites such as eBay, a viable payment method for such operations must receive legal review. Online retail in the UK was only 0.4% of total retail in 1999, this figure rose to 4% in 2002.1 Most of the emphasis in the existing literature has been in regards to “conventional” online payment systems, such as credit and debit cards, and some other non-conventional payment methods such as the increasing legal interest in electronic money schemes.2 Nevertheless, there has been minimal interest in one of the fastest growing online payment methods – the popular Consumer-to-Consumer (C2C) model of electronic commerce. For example, online retail in the United States accounted for $35.87 billion USD in 2001 and $47.98 billion USD in 2002. The reason for this is the almost exponential increase in electronic commerce transactions. The area of online payment systems has been the subject of increasing attention for those interested in electronic commerce law. Hopefully, this will prove of value to those either interested in the rapidly changing dynamics of (1) electronic payment systems, or (2) those engaged in Internet site operations. I’ve sought to present a roadmap with these materials that shows eBay’s struggle to optimize its business performance while navigating through a complicated maze of regulatory compliance concerns and issues involving governmental jurisdictions throughout the world. My additions include weaving these materials into a logical presentation and providing supplemental sources for those who desire a deeper look (usually in my footnotes) at any particular aspect. Most of the descriptive language to follow is excerpted directly from eBay’s regulatory filings. What are the major risks perceived by those engaged in ecommerce and electronic payment systems? What development risks, if they become reality, may cause substantial increases in operating costs or threaten the very survival of the enterprise?This article utilizes the relevant annual report disclosures from eBay (parent of PayPal), along with other eBay and PayPal documents, as a potentially powerful teaching device. Therefore, the arrival of PayPal in Serbia is of particular importance for domestic users. The PayPal availability represents a positive step in terms of opening Serbian economy and raises opportunities for domestic users to buy products from abroad, and hopefully soon sell goods over the Internet. Recently, PayPal has become available for sending money from Serbia, which means that the service is still incomplete and that the Serbian users will have to wait for the possibility of receiving the funds. Although widely used, this system does not have the same legal treatment throughout the world, and the paper relates to a different treatment of this system in the laws of the united States, China, European union and Australia.

#History of paypal pdf free

Account opening is completely free of charge, but the payment processing is subject to the collection of fee from the recipient of the payment, where the fee structure depends on the type of account. This web system makes payments for Internet purchases faster and easier, and provides special benefits for frequent transactions of lower value. PayPal is an acquiring financial institution, performing payment processing for online vendors, auctioning websites and other commercial users, and earning commissions fees for these services.